Reactions Split as Political Parties Address Real Estate Policy Forum

On July 23, a national forum on real estate policy chaired by President Lee Jae-myung elicited contrasting reactions from political parties. The Democratic Party expressed its commitment to support the forum's outcomes with policy initiatives, while the People Power Party criticized it as a mere exercise in predetermined public opinion manipulation.

Han Byeong-do, acting leader of the Democratic Party and floor leader, praised the forum during a policy coordination meeting, stating, "Listening to voices on the ground and finding feasible solutions is the governance style of the Lee Jae-myung administration."

Han Jeong-ae, chair of the policy committee, listed various proposals made by President Lee through social media, including adjustments to property taxes, differential treatment for primary residences versus investment properties, and criteria for high-value homes. She expressed hope for consensus on tax equity measures and promised to gather diverse opinions to develop solutions for young people and first-time homebuyers.

Spokesperson Boo Seung-chan emphasized in a written briefing that the government did not pre-determine answers and instead laid out issues as they are, stating, "We will thoroughly review the opinions presented and refine our real estate policies. We will fulfill our responsibility to ensure that the public's will is reflected in tax reform proposals and follow-up measures."

In contrast, Jang Dong-hyuk, leader of the People Power Party, expressed skepticism during a Supreme Council meeting, questioning the necessity of the forum. He remarked, "Now that the President has sold his house, he will quickly push for tax increases and the abolition of long-term capital gains tax exemptions, which will only exacerbate the suffering of the public."

Chief Spokesperson Choi Bo-yoon criticized the forum, stating, "While it was presented under the guise of engaging with the public, it ultimately ignored the cries from the ground and the warnings from the market, merely justifying the government's policy failures."

Choi added, "What the public wants is not one-sided policy boasting or lecturing, but an honest confession from the government and a fundamental policy shift. We must ease uniform lending restrictions that hinder genuine buyers and abandon the outdated approach of controlling housing prices through taxation."